Life, Health, And Accident Insurance Exam 200 Questions And Answers
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Terms in this set
200
Regarding an organizational license, what happens when a corporation is dissolved?
The license is terminated
john applies for a variable annuity and does not request that the premiums be immediately invested in a stock or bond portfolio. After the annuity is issued, John returns the annuity contract to the insurer within the free look period. What will John receive from the insurer?
The entire premium
Which of the following in NOT of the common personal uses for life insurance?
Funding a buy-sell agreement
Which type of life insurance policy gives the policy owner the right to share in the insurer's surplus?
Participating
The insured bought an annuity ten years ago. He will retire in five years. To determine the value of his annuity, he must multiply the value of the "accumulation units" he owns, times the value of the "separate account". This type of annuity is known as a
Variable annuity
Medicare Part A begins automatically at age:
65
An individual license is considered terminated:
On the death of the licensee
Usually, in order to join a group insurance plan without proving insurability, an employee must:
Join the plan during the enrollment period
A single deductible amount for all members of the same family and a right to single family member deductibles is known as:
Family deductible
COBRA applies to employers with at least
20 employees